The Progressive Corporation $PGR Shares Sold by Thompson Siegel & Walmsley LLC

Thompson Siegel & Walmsley LLC decreased its position in The Progressive Corporation (NYSE:PGR) by 17.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 78,325 shares of the insurance provider’s stock after selling 16,272 shares during the period. Thompson Siegel & Walmsley LLC’s holdings in Progressive were worth $17,836,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dagco Inc. acquired a new position in Progressive in the fourth quarter valued at approximately $28,000. Ameriflex Group Inc. grew its position in Progressive by 106.6% in the third quarter. Ameriflex Group Inc. now owns 126 shares of the insurance provider’s stock worth $31,000 after acquiring an additional 65 shares during the period. Entrust Financial LLC acquired a new stake in Progressive during the fourth quarter worth $33,000. Kingdom Financial Group LLC. purchased a new stake in Progressive in the fourth quarter valued at $34,000. Finally, Bangor Savings Bank raised its position in Progressive by 60.4% in the fourth quarter. Bangor Savings Bank now owns 154 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 58 shares during the period. Institutional investors and hedge funds own 85.34% of the company’s stock.

Progressive Price Performance

PGR stock opened at $190.27 on Monday. The business’s fifty day moving average price is $199.66 and its 200 day moving average price is $209.68. The Progressive Corporation has a 12-month low of $189.20 and a 12-month high of $289.96. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $111.18 billion, a PE ratio of 9.67, a P/E/G ratio of 5.52 and a beta of 0.28.

Progressive (NYSE:PGR) last released its earnings results on Wednesday, April 15th. The insurance provider reported $4.80 earnings per share for the quarter, beating the consensus estimate of $4.67 by $0.13. The company had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $23.51 billion. Progressive had a return on equity of 33.47% and a net margin of 12.92%.Progressive’s revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company posted $4.37 EPS. On average, sell-side analysts anticipate that The Progressive Corporation will post 16.36 EPS for the current year.

Progressive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Thursday, July 2nd will be issued a $0.10 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.2%. Progressive’s payout ratio is 2.03%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods reiterated a “market perform” rating on shares of Progressive in a report on Friday, May 22nd. Barclays set a $247.00 price objective on shares of Progressive in a report on Wednesday, March 18th. Zacks Research raised shares of Progressive from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 24th. Mizuho dropped their price target on shares of Progressive from $235.00 to $223.00 and set a “neutral” rating for the company in a research report on Friday, March 20th. Finally, Piper Sandler reissued an “overweight” rating and issued a $259.00 price target on shares of Progressive in a research note on Monday, March 2nd. Six investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Progressive presently has a consensus rating of “Hold” and an average price target of $238.11.

Insider Buying and Selling

In related news, CAO Carl G. Joyce sold 270 shares of the company’s stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $206.50, for a total transaction of $55,755.00. Following the sale, the chief accounting officer directly owned 558 shares of the company’s stock, valued at $115,227. This represents a 32.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Karen Bailo sold 3,517 shares of the business’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $212.00, for a total transaction of $745,604.00. Following the completion of the transaction, the insider owned 32,348 shares of the company’s stock, valued at approximately $6,857,776. This trade represents a 9.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 3,928 shares of company stock valued at $831,251 in the last 90 days. Company insiders own 0.32% of the company’s stock.

Progressive Profile

Progressive Corporation is a large U.S.-based property and casualty insurer that primarily underwrites personal auto insurance along with a broad suite of related products. Its offerings include coverage for private passenger automobiles, commercial auto fleets, motorcycles, boats and recreational vehicles, as well as homeowners, renters, umbrella and other specialty P&C products. Progressive also provides claims handling, risk management and related services to individual and commercial policyholders.

The company distributes its products through a mix of direct channels—online and by phone—and an extensive independent agent network.